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Treasurer’s Report 2009-2010
SHEFFIELD LOCAL OPTICAL COMMITTEE.
TREASURER’S REPORT
2009-2010
Once again the LOC members have been very active.
The finances are in good shape.
Income, almost entirely from the statutory levy, is up slightly on last year from £25,748 to £28,101. An increase of £2,353.
The statutory levy remains unchanged at 1%, of which 0.5% is forwarded to LOCSU.
Expenses are similar to last year at £30,147 (‘09) and £30,781 (‘10). This includes a payment to LOCSU of £14,049.
Our main account is now online so payments have been made direct to accounts, which streamlines the process.
We have reserves of £24,765 after the LOCSU payment has been taken into account, similar to last year.
I therefore suggest we keep the statutory levy at 1% for the coming year.
Sometime in the coming year we should revisit reinstating the voluntary levy which funds the Central LOC Committee. They do have a website now (http://www.centralfund.org.uk). However, it is rather uninformative. They have not taken on my suggestion, at the NOC last year, of finding a good website designer.
I feel that they will have to move into the 21st century to be taken seriously.
G R Cowley
LOC Treasurer
17/5/2010